1st Edition

Research on Pandemics Lessons from an Economics and Finance Perspective

Edited By Yezhou Sha, Susan Sunila Sharma Copyright 2022
    336 Pages
    by Routledge

    336 Pages
    by Routledge

    The lasting turmoil associated with the unprecedented pandemic, triggered by the novel corona virus COVID-19, has dragged the world into a mud of uncertainty. Fiscal stimulation, interest rate cuts, global supply-chain redeployment, "pandemic bond" and circuit breakers kicked in and the world is responding to this great challenge. But how can finance and economic research help the world under such circumstances?

    This book dwells on this new area of research and tries to understand how pandemics impact the economic and financial ecosystem of both emerging and advanced economies. Lessons learnt from the experience of previous pandemics maybe presented and discussed through drawing on policy lessons to date. By gathering research on political economy, geopolitical issues, behavioral finance, international institutional responses and medical and health issues resulting from pandemics, the chapters in this edited volume help in expanding the knowledge of social and economic consequences of the pandemic as well as set the foundation for future research. This book would benefit scholars, policy makers and entrepreneurs worldwide as a valuable archive of research on pandemics.

    The chapters in this book were originally published as a special issue of Emerging Markets Finance and Trade.

    Introduction: Research on Pandemics Special Issue of Emerging Markets Finance and Trade

    Yezhou Sha and Susan Sunila Sharma

    1. Country Responses and the Reaction of the Stock Market to COVID-19— a Preliminary Exposition

    Dinh Hoang Bach Phan and Paresh Kumar Narayan

    2. Flatten the Curve and Stock Market Liquidity – An Inquiry into Emerging Economies

    Omair Haroon and Syed Aun R. Rizvi

    3. Does the Indian Financial Market Nosedive because of the COVID-19 Outbreak, in Comparison to after Demonetisation and the GST?

    Alok Kumar Mishra, Badri Narayan Rath and Aruna Kumar Dash

    4. How Do Firms Respond to COVID- 19? First Evidence from Suzhou, China

    Xin Gu, Shan Ying, Weiqiang Zhang and Yewei Tao

    5. COVID– 19’s Impact on Stock Prices Across Different Sectors— An Event Study Based on the Chinese Stock Market

    Pinglin He, Yulong Sun, Ying Zhang and Tao Li

    6. The Impact of the COVID- 19 Pandemic on Firm Performance

    Huayu Shen, Mengyao Fu, Hongyu Pan, Zhongfu Yu and Yongquan Chen

    7. Which Firm- specific Characteristics Affect the Market Reaction of Chinese Listed Companies to the COVID- 19 Pandemic?

    Hao Xiong, Zuofeng Wu, Fei Hou and Jun Zhang

    8. COVID-19 Pandemic and Firm-level Cash Holding— Moderating Effect of Goodwill and Goodwill Impairment

    Xiuhong Qin, Guoliang Huang, Huayu Shen and Mengyao Fu

    9. Is the Chinese Economy Well Positioned to Fight the COVID-19 Pandemic? the Financial Cycle Perspective

    Ding Liu, Weihong Sun and Xuan Zhang

    10. The Disease Outbreak Channel of Exchange Rate Return Predictability: Evidence from COVID-19

    Bernard Njindan Iyke

    11. Fear Sentiment, Uncertainty, and Bitcoin Price Dynamics: The Case of COVID-19

    Conghui Chen, Lanlan Liu and Ningru Zhao

    12. Constructing a Global Fear Index for the COVID-19 Pandemic

    Afees A. Salisu and Lateef O. Akanni

    13. Accounting Index of COVID-19 Impact on Chinese Industries: A Case Study Using Big Data Portrait Analysis

    Pinglin He, Hanlu Niu, Zhe Sun and Tao Li

    14. How Does COVID-19 Affect China’s Insurance Market?
    Yating Wang, Donghao Zhang, Xiaoquan Wang and Qiuyao Fu

    15. Household Financial Decision Making Amidst the COVID-19 Pandemic

    Pengpeng Yue, Aslihan Gizem Korkmaz and Haigang Zhou

    16. Pandemic, Mobile Payment, and Household Consumption: Micro-Evidence from China

    Taixing Liu, Beixiao Pan and Zhichao Yin

    17. The Response of the Labor Force Participation Rate to an Epidemic: Evidence from a Cross-Country Analysis

    Zhen Yu, Yao Xiao and Yuankun Li

    18. Implications of COVID-19 Pandemic on the Global Trade Networks

    C. T. Vidya and K. P. Prabheesh

    19. COVID-19 and Air Quality: Evidence from China

    Wen Ming, Zhengqing Zhou, Hongshan Ai, Huimin Bi and Yuan Zhong


    Yezhou Sha is Associate Professor of Finance at Capital University of Economics and Business. His research has been published in the Economic Modelling, Pacific-basin Finance Journal, and Emerging Markets Finance and Trade.

    Susan Sunila Sharma is Senior Lecturer in the Centre for Financial Econometrics & Department of Finance in Deakin Business School. In 2019, the Web of Science Group recognized her with a distinguished title of a highly cited researcher. Moreover, in 2016, she received a “highly cited early to mid- career Australian female researcher” award at the inaugural “Women in Research” citations awards, hosted by the Thomson Reuters IP and Science and the Australian National University (ANU). Google Scholar counts the citation of her work at over 3,700, with an h-index of 29. She is a co-editor of the journal Emerging Markets Finance and Trade, a subject editor of the Journal of International Financial Markets Institutions & Money, and guest editor of multiple issues of Economic Modelling. Her research in finance has employed a wide range of recent developments in financial econometrics. Susan’s research interests are in the areas of panel predictability models, time series econometric models, price discovery, commoity markets, forecasting and energy markets.